Hello Friends,
I hope you all had a great weekend. Well this is a good way to start a Monday morning. The DOW is on a rally this morning, it was up as high as 300 but has receded a bit, currently up 230 as I type. Also good news, mortgage backed securities were down due to the stocks rallying but they have recovered and slightly crept into positive territory.
Why the rally? Well, the Big 3 automakers may have an answer they were looking for as legislators appear to be coming up with a "win/win" for the corporate giants and tax payers.
Also, President Elect Obama stated early today that there will be a mass infusion of money into the infrastructure of the US once he gets into office, this excited traders and started the week off on a good note. With this though, oil prices have climbed on the positive news and have gained back about $4 per barrel.
There is an interesting financial dynamic occurring, setting up a big stock rally for the first of the year with nearly 30% of hedge fund managers parked on the sidelines with cash. Also, mortgage backed securities are set up to become more valuable as the Treasury and the Fed Bank's commitment of backing new mortgages will be available the first of the year, $600 billion that is.
Please watch the video for an explanation on why this most likely will occur.
Be Blessed!
Hello Friends,
Well, I guess we shouldn't be shocked by the ugly jobs numbers and unemployment rate, but even the biggest pessimist probably couldn't have predicted these numbers and revisions. 533,000 payroll jobs were lost last week, the highest reading since 1974, bringing the month long ongoing claims to 1.9 million, the highest since 1982. The unemployment number hit 6.7%, the worst number since 1993.
I just threw 3 dates at you and you may be wondering what the heck. The unemployment numbers and payroll job losses are two different readings, please watch the video for more details of this dynamic.
Again, ending on a good note, mortgage rates are incredibly low and also setting records, coming on an all time mortgage rate low, dating back to the early 60's. I have locked in two clients in the past two days at 4.875% on a 30-yr fixed paying a small discount where there APR was in the low 5% range.
Also positive, the dollar's climb and oil price declines to break $43 a barrel.
Have a great Friday, I hope where ever you are reading this it is as pretty as it is here in Oregon this morning.
Be Blessed!
Hello Friends,
Have you heard the news? It seems too good to be true and most likely it is. Believe me, having our economy jump started by creating a home purchase flurry sounds wonderful on paper and I would love to see it happen if it could work, but my concerns are laid out in the video. The biggest concern I see in the preliminary talk on this just accounts for new home purchases, not refinances. If this is true, the same critical problem that is occurring with FHA insured loans which had to put safeguards in place to stop this problem is a practice called "Buy and Dump".
In some markets and more as this idea spreads, it is where a person would be living in a neighborhood and their neighbor's home went into foreclosure on top of the decline they have already seen in their home value and they could get the same cookie cutter house for a 1/3 or more of what they owe or their value. Then they get qualified to buy the neighbors home stating they are going to keep the current as an investment and than once the deal closes, they stop making payments on their last home.
Add to the equation they can do this AND get a rate at 4.5%, this unethical phenomenon would continue at a scary pace. So as good as it sounds, there is a lot of safeguards to be worked out. Also, another concern is that people will get into homes they cannot afford because of the low rates and end up buying too big of home the cannot afford and when the economy does turn around and the rates are back at an average level, they will be in a home they could have not afforded without the rate drop.
So a lot to digest with this concept, stay tuned....
Please watch the video for more details of the financial and mortgage market happenings today.
Be Blessed!
Hello Friends,
Well before I get too long winded on the financial market update, I will let you get most of the details from the video. I do want to share a story I heard recently that hit home.
It is story about a guy that went to a pet store in search of a singing parakeet. He was a bachelor and his house was too quiet and he thought a bird signing in his home would bring him joy. So we met with the pet store owner, told him what he was hoping for and the store owner said he had just the bird.
So the man bought the bird and took him home. Immediately the bird started singing a beautiful song and the man was so excited, the bird was better than he had hoped for.
The next day the man came home from work to a house full of music again. He went to the cage to admire his new friends and noticed for the first time that that bird had only one leg.
Immediately he was angered and felt cheated that he'd been sold a one-legged bird, so he called and complained to the store owner.
"What do you want," the store owner asked, "A bird who can sing or a bird who can dance?"
Good question for all of us in times of disappointment.
Please watch the video for your complete mortgage and financial update. Currently the DOW is down 100 and mortgage backed securities are flat after being down 28.
Be Blessed!
Hello Friends,
I hope you all had a special Thanksgiving Holiday and long weekend. Unfortunately real bad Global Manufacturing numbers came out this weekend and the news hit the international markets first, setting up our Fed Futures and market to open ugly this morning. The Dow is down 442 as I type and mortgage backed securities which should be rallying, are flat, only up 6 basis points.
Also, spending on Black Friday and this weekend showed a 7% increase from last year but the numbers appear skewed though due to the slashing and discounts offered by stores to get people in as well as the stores that are closing up shop, selling off products below costs.
Like always, I like to leave on a positive note, so here is the good news. Oil had a short rally last week but ended with the global manufacturing numbers hitting the wires, oil is back under $50 a barrel.
Also, the great news for us in the mortgage and real estate business as well as our friends and clients, I just locked a 30-yr mortgage for a client that was willing to pay a discount point at 4.875% with an APR around 5.2% I think we can all agree that when a 30-yr fixed mortgage drops below 5%, home buying is an investment you can't pass. Especially on our investment properties, those should cash flow easy now with these rates and decline in home prices.
Please watch the video for more details.
Be Blessed!
Travis
As a Certified Mortgage Planner, it gives me the privilege to help families build for their future as well as continue an ongoing relationship where I become their trusted advisor and debt manager.
About Me:
When I reflect on my life so far, I like to think that it is punctuated with passion: Passion for God, passion for family, passion for the community. This passion fueled my career in the military and later in the Beaverton police department. I served for 11 years as an officer and completed a degree in criminal justice. After my wife became pregnant with our second child, I sought out alternative career opportunities that would allow me to continue to give to the community and fulfill my most important role as father to Karmen and Austin.
Through the process of creating my life plan and business vision with my Christian life and business coach, we found that for my vision to come to life, an excellent team had to be created. I have found like-minded individuals and team players that shared my values and core. We are passionate about serving our clients and empowering their financial futures.
When I am not working, I spend time with my family attending my children's activities, traveling and volunteering as a youth leader with high schools kids with Young Life. I also attend Beaverton Foursquare where my family calls our church home. Some other hobbies of mine include working out, Trail Blazers games and golfing.
Areas of Expertise
Being a Certified Mortgage Planner gives me the privilege to help families build for the future as well as continue an ongoing relationship where I become their trusted advisor and debt manager. I am happy to apply my experiences and keen sense of detail to crafting creative solutions to the financial needs of my clients. Currently I am managing over $70 million in mortgages for my clients and constantly strategizing with market trends and opportunities for my clients to create more wealth and become debt free.
Learn more about our mortgage planning and managment process as my client and referral partner interactive forum at www.neliton.com
My Team
Amy Yoder - Mortgage Planning Partner
Amy works with Travis to ensure that the process of obtaining a loan is productive and painless. She assists Travis in laying out a plan for each client to make certain that each client's goals are met. With Travis' client's best interest in mind, Amy works to find the appropriate loan and lender and gathers together what is needed for each transaction.
Lya Macaya, Transaction Coordinator
Lya works to create a smooth, seamless loan transaction for her clients and all parties involved. It is her responsibility to submit and process all loans while maintaining open communication with borrowers, lenders and Realtors. Lya works directly with clients to be certain that all information needed by the lender for each loan is complete and accurate so that each loan closes easily and timely.
Tyler Colson - Business Development Partner
Tyler's role is to help clients stay in touch once they have left their consultation, finished their home purchase or mortgage redesign and the ongoing management of their mortgage. In addition to keeping clients up to date on the financial and mortgage markets, we will continue to monitor the financing you have chosen and make certain it best matches your short and long term financial goals.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
